EURJPY, 13/08/15 @07:48 GMT

SELL@138.44 SL@138.86 TP@137.30

Monitor the pair from H1 Time-Frame.

This move is a corrective Downward Move and if we want to take this trade, we must keep in mind that it is a High-Risk Trade. For this reason, I would switch to M15 TF after I had entered Short from H1 and once price had moved downwards at least 20pips from there. I would Trail my SL above Kijun Sen plateaus on M15 and would stay in while candlesticks close below Tenkan Sen on M15 and EXIT when a bullish candlestick would close above TS there.

Otherwise, we may WAIT for the Downward move to finish on H1 TF, and BUY when a strong Bullish Candlestick Closes above Tenkan Sen on H1 TF with TS going UP. Would place our SL below Kijun Sen recent Plateau and trail it below each new Kijun Sen Plateau. We could place our TP at 139.96

Happy pips!


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